What financing APR rates are you seeing?

[Timaysz]

My credit is 750+
My credit union said a 730 credit score..
And they could do 5.3 at 60mo
Or 5.45 at 72 months...
Haven't looked anywhere else yet

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[st3v]

4.99% at dcu. Take the loan, wait for rates to drop, then cash out refi with gap.

Who says rates will drop significantly enough in time to be worth a refi? More interest than principal is paid in the early years of the loan. We could have relatively high interest rates for a while.

 

[inthecabin]

My credit is 750+
My credit union said a 730 credit score..
And they could do 5.3 at 60mo
Or 5.45 at 72 months...
Haven't looked anywhere else yet

I was at 800+ rating and got 2 denial letters from the dealership when trying to finance before delivery… When delivery happened in October I was ready to pay cash when they offered 0.9 financing. I took the offer because I can make more on my cash!! I showed the letters of denial to the finance guy and he was flabbergasted!! He asked if he could frame it. I said sure but realize the letters came from you… oops never mind…

 

[MavChris]

I ordered my Maverick back on Jan 27 of 2022 and got a call from dealership 3 weeks ago that my truck was just delivered and when did I want to take delivery!? I had no updates from the dealership or Ford or anyone for a year! I'd text my sales guy every other month and he never had an update for me other than my truck would be rolled over to a 2023 model year. Never got correspondence from Ford on build dates. I missed out on all that fun. I was on a very constrained timeline now for financing. Applied through Ford Motor Credit and best they could do was %6.75. I have a 800+ credit rating. Next day went to local credit union and they approved me for %4.1 for 60 months.

 

[Redneck Garage]

I ordered my Maverick back on Jan 27 of 2022 and got a call from dealership 3 weeks ago that my truck was just delivered and when did I want to take delivery!? I had no updates from the dealership or Ford or anyone for a year! I'd text my sales guy every other month and he never had an update for me other than my truck would be rolled over to a 2023 model year. Never got correspondence from Ford on build dates. I missed out on all that fun. I was on a very constrained timeline now for financing. Applied through Ford Motor Credit and best they could do was %6.75. I have a 800 credit rating. Next day went to local credit union and they approved me for %4.1.

So when you "applied thru Ford Motor Credit" was that at the dealership ?

 

[OB1e]

Take a look at the nada guide for a 22 my. With a year's worth of payments and the value, you would have almost 10k in equity. Hoping for the same this time next year with the 23s. As soon as you get out of the current model year the Nada takes off.

 

[OrangeBlue]

I got some bad Horsey Sauce at Arby's in '79.

I feel ya bro.

It happens. I had a bad experience with Ford Credit about 40 years ago. They'll always be my LAST choice now.

 

[Timaysz]

I was at 800+ rating and got 2 denial letters from the dealership when trying to finance before delivery… When delivery happened in October I was ready to pay cash when they offered 0.9 financing. I took the offer because I can make more on my cash!! I showed the letters of denial to the finance guy and he was flabbergasted!! He asked if he could frame it. I said sure but realize the letters came from you… oops never mind…

I want to wait to see what the dealership offers said they go threw a few diffent places to see what's the best apr they can get for u but most likely I'll prob just go threw my credit union just for ease of making the payments unless the sales man can find a loan that will beat my CU..
My truck is built estimated delivery said Jan 29th to February 4th but I know I can still take a month after that but as soon as the truck shows up to the dealership I'm having them take it to get bedliner sprayed in in the front passenger and driver side windows tinted to match the back said about 550 for the sprayedin and about 150 to 170 for the tint. I got lux on it.. I told the salesman this time to not put in the sprayed in bed liner in the reorder I'll just have them get it done.

 

[MavChris]

So when you "applied thru Ford Motor Credit" was that at the dealership ?

Hi. Yes I was at the dealership when I applied for Ford Credit.

 

[DaMav]

Got my Maverick a few weeks ago (love it!). Local CU did 3.9% for 36 months.

 

[Z_ealot]

ouch, all these higher interest rates makes me feel lucky I got the 1.9% apr that my dealer was good enough to hold on to for me back when I got my maverick in November of 22 that I ordered in December of 21

 

[Redneck Garage]

Hi. Yes I was at the dealership when I applied for Ford Credit.

So here's the thing, there is nothing that says the finance manager cant lie to you before the final paperwork is done. Its a huge scam. So the dealership has what is called a buy rate - the quote they get from the lender for providing credit for your loan then the stealership will increase the rate - thats called the contract rate. On top of that , certain lenders will have financial bonuses for finance folks to use them. So in other words they tell you ohhhh Ford Credit offered you 7% which isnt really the truth - the only instance when you can trust a rate is when Ford Credit has a set rate and you can hold them to it. The finance manager isnt trying to "help" you get the best rate, he is trying to extract as money as possible from you Get your financing before you go.

 

[IdahoDirtFarmer]

Went through this today. Long story but maybe it'll help.

My Bronco Sport will arrive at my dealership in the next few days. Ive been asking for the purchase agreement for a couple weeks now so I can get pre-approval from my credit union. Never would give it to me, just kept saying they can do it through my bank from their office. I know they can, I just didn't want them padding the interest rate for themselves or anything. Checked with my credit union yesterday and they are at 4.74% currently. Asked my salesman yesterday what Ford financing was at and was told the best they can do is 4.99% and there's no way any credit union could come near that. Asked if there are any financing incentives, rebates, credits, etc. And was told there was not.

Got bored last night and looked on my dealers website and was eyeballing my Bronco listed there in their stock. Scrolled down a little further and noticed it listed a $500 and $1000 incentives.

So, go into dealer today to either deal with financing there, or get my purchase agreement so I can go to my bank. My salesman wasn't there so I ended up with a higher up salesman. Explained what I wanted and of course they ask what payments you want. Told him let's see what interest rates are and that'll determine what payments are. Told him to find out interest rates and I'll apply to that bank only. Days they go through ICCU which always has the best rates. My Brother bought a new Prius two days ago and they financed through them at 6.7%. both of us have about a 750 credit score.

Anyways, told him my bank is at 4.74% currently. Asked how long ago that quote was from because rates have risen significantly lately. Told him it was yesterday afternoon. He came back twice to make sure I was positive about that rate. Told him if I couldn't get that rate or less I'd just pay cash for it and not mess with financing. (A total bluff). He came back and said they could get that rate through my bank. That's when I asked about those two cash offers from Ford listed on their website for my vehicle. He said there wasn't any so I showed him on their website on my phone. He disappeared for a few minutes and comes back saying the $500 one only counts for a lease. Then he says I can take the $1000 off the price but he "just found out" that I was rate locked to September 21st when I ordered and I'd have to give that up to get the $1000 discount. The rate he got me through Ford financing was 2.9% for 60 months.

Bottom line, do your research, go in prepared, and don't be afraid to say no to them when necessary. They're used to people wondering if they CAN get financing and just going along with whatever they are told.

 

[StephMavXLT]

The myeecu credit union in the California central valley offers as low as 3.5%.

 

[Hardening2753]

I used Lightstream on my last 2 vehicles. Its quick and easy. They deposit the money directly into your bank account and you leave the dealer title in hand. They are non collateral loans.

Wow that's great! What's the interest rate? Any strange small print?

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